Colorado is seeing a boom in terms of commercial real estate demand, according to the Denver Post, which published a report recently stating that the leasable space and investment properties are well outpacing the supply currently available. Demand for office space is poised to rise as well, thanks to the continually increasing white collar positions, where creation and retention of these positions grows at a rate far higher than any other U.S. market. The Denver commercial movers have found that there is a shrinking supply of office space, and that lease rates are rising in almost all property categories throughout the entire state.
Vacancy rates are down and metro Denver showed the largest first-quarter decline in office vacancy rates from the nation’s 12 largest markets. The one area of property that seems to be struggling amidst the success of the area is large retail space. The metro Denver area alone has a minimum of 75 retail spaces, each encompassing 20,000 square feet, which are all vacant in the area.